Revised exposure draft and Comment letters
On 14 November 2011 the IASB and the FASB issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers.
The boards decided to re-expose the proposals because of the importance of the financial reporting of revenue to all entities and the boards’ desire to avoid unintended consequences arising from the final standard.
Submit a comment letter
The comment letter deadline is 13 March 2012.
Comment letters should be sent by email to either
commentletters@ifrs.org OR director@fasb.org (if sent to FASB please quote File Reference No. 2011-230)
Please send the letter to only one e-mail address
Click here to visit the FASB website and read comment letters.